Western Digital announced that it will be acquiring SanDisk in a deal worth $19 billion and last week they confirmed that the last regulator had approved the deal, today they have announced that the deal has now been completed.
However, the deal has gone down in price since the original announcement and is now worth $16 billion.
That price is made up of cash at $67.50 per share and 0.2397 of shares in common stock of Western Digital.
Steve Milligan, chief executive officer of Western Digital explained more:
“Today is a significant day in the history of Western Digital, we are delighted to welcome SanDisk into the Western Digital family. This transformational combination creates a media-agnostic leader in storage technology with a robust portfolio of products and solutions that will address a wide range of applications in almost all of the world’s computing and mobile devices. We are excited to now begin focusing on the many opportunities before us, from leading innovation to bringing the best of what we can offer as a combined company to our customers. In addition, we will begin the work to fully realize the value of this combination through executing on our synergies, generating significant cash flow, as well as rapidly deleveraging our balance sheet, and creating significant long-term value for our shareholders.”
You can read more about the Western Digital and SanDisk acquisition at the source link below.
Source: Western Digital